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. (RESOIjUTION •# 569Continued) property.in,the Village'a direct, annual, irrepealable tax for the years and in the amounts, if.any, which will be -required, together ,..with'the colledtions of such remaining special assessments and interest thereon, to produce sums not less than -5% in excess of the pr.incipaland interest payments when due upon the definitive imp provement bonds, and -shall appropriate all such remaining special assessments : and taxes to the, Improvement Bond Redemption ,Fund established by Ordinance No.56, adopted on September 4,'1963, or to'another de>bt redemption ,fund, for the payment of such definitive improvement.bonds and interest thereon. The proceeds of the definitive improvement bohds shall .simultaneously be credited to the,'Temporary-Improvement Bond Fund, and the bonds herein authorized shall 'be paid from-s_6J d fund and redeemed and canceled. E �. No- tax is presently levied for the payment of 'the a bonds herein authorized, it being estimated that the proceeds of the definitive improvement bonds herein covenanted and agreed to be ..issued, together with special assessments levied for said improve- ` meet,'' will provide funds adequate for the. payment of. said' bonds and interest in full in accordance with Minnesota.Statutes 19619 Section 4.75..61. However.., .the full faith and credit of the Village is hereby � pl'edged for the payment of the bonds herein authorized, and ad& valorem taxes ,siial•1 be levied on all taxable property within the Village, without 'limitation as to rate or amount, to the extent required for the. payment of said temporary bonds and interest.' -- 7. The right is reserved to issue additional Temporary Improvement Bonds payable from the fund herein created, to pay any additional costs of Sanitary Sewer Improvement 64 -ZS -1, or of other municipal improvements validly instituted in accordance with Minne- sofa Statutes, Chapter 429, provided that the special assessments and taxes to be levied with'respect to any such improvements shall 4 - be appropriated to the'Temporary Improvement'Bond Fund and accounted. _ for •aa •proided in. this resolution. . ` 8. The Village Clerk is dired.ted to file a certified COPYof this resolution with the County Auditor of -Hennepin County,` and to 'obtain from the County Auditor before the delivery of. the , bonds herein authorized a certificatethat said bonds have been duly entered. upon the County Auditor's register. 9. The officers of the'Village and the County Auditor of Hennepin "County are authorized and directed to prepare and furnish 'to the purchasers'of ;the bonds issued hereunder, and to the attorneys, approving -the legality. of the issuance thereof, a certified copy . of this resolution and of all other proceedings relating to said bonds, together with'such affidavits, certificates and information as may, be reasonably required to show the legality and marketability..of said -bonds, as such information .appears from the books and records in'tYeir custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits shall.be deemed representations'.of the Village as to the correctness of all state- ments contained therein. Adopted by the VillageCouncil of,the Village of Orono, Minnesota +� .at a special meeting held June 29, 1964. . R. Ross, Mayor Attest:; Do ald J. B 11., Clerk